Swiss Market Ends On Strong Note
(RTTNews) - After a cautious start, stocks slowly gained in strength and stayed firm right through the session on Thursday thanks to sustained buying at several counters and eventually ended the day on a bright note.
The benchmark SMI, which climbed to 13,395.00, settled at 13,341.27, gaining 122.95 points or 0.93%.
Roche moved up 4.2%. The drugmaker has developed a research use only molecular PCR test, via its subsidiary TIB MOLBIOL, to detect the rare Ebola Bundibugyo virus.
Partners Group climbed 3.73%, while Novartis, Alcon, Sonova and SGS gained 1.6%-2%.
Swiss Re, Julius Baer, Schindler Ps, Swiss Life Holding, Sandoz Group, Givaudan and Helvetia Baloise Holding moved up 1%-1.5%.
Geberit, Straumann Holding, Kuehne + Nagel, Lonza Group and Zurich Insurance Group also closed on firm note.
Logitech International shed about 2.3%. Galderma Group closed nearly 2% down, while ABB, Holci, Sika, Lindt & Spruengli and Nestle lost 0.7%-1.1%.
In economic news, Switzerland's unemployment rate remained stable in May after rising to a 5-month high in the previous month, the State Secretariat for Economic Affairs, or SECO, said.
The unadjusted unemployment rate stood at 3% in May, the same as in April. In the corresponding month last year, the jobless rate was 2.7%.
The youth unemployment rate, which applies to the 15-24 age group, also stayed unchanged at 2.7% in May.
Meanwhile, the seasonally adjusted unemployment rate rose to 3.1% from 3%.
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